BlackRock TCP Capital (NASDAQ:TCPC) Posts Earnings Results, Misses Expectations By $0.04 EPS

BlackRock TCP Capital (NASDAQ:TCPC) posted its earnings results on Wednesday. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04), Zacks reports. The firm had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period in the previous year, the company posted $0.49 EPS.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC traded up $0.16 during midday trading on Thursday, hitting $8.71. The stock had a trading volume of 1,090,442 shares, compared to its average volume of 500,794. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $745.49 million, a P/E ratio of -16.43 and a beta of 1.47. The company’s 50-day moving average price is $8.44 and its 200-day moving average price is $9.74. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $12.43.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.44 dividend. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 20.21%. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -256.60%.

Insider Activity at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the acquisition, the director now directly owns 27,481 shares in the company, valued at $250,077.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock valued at $381,875 over the last three months. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.